It's probably about right for what will eventually be "normal mode"; once you have worked out the sorts of options available to you, there are plenty of different ways of dealing with encounters, good for a variety of play-styles.

I would also expect a simpler mode for those focussed only on story interest, and a hardcore mode or two for rules-jockeys.

The times I had wipeouts, testing about 5 playthroughs, were when ( both accidentally and deliberately ) I ran headlong into prepared ambushes; and once when the random element introduced by constant dice rolls just went very badly.

The worst part of the combat experience was that very large fights get very tedious because a 6-second round can take 2-3 minutes. Larian have done a good job removing/altering 5e rules that would make the game experience crawl, but large numbers of participants will always be difficult in turn-based mechanics.